The United States Secretary of State, Dr. Henry Kissinger, held a reception for delegates of?
The United States Secretary of State, Dr. Henry Kissinger, held a reception for delegates of the United Nations Conference on Trade and Development (UNCTAD) on Tuesday (4 May) and said his country would go as far as possible to meet the demands of the developing nations.
Dr. Kissinger, on the final stage of his African tour, lunched with representatives of about 40 developing countries on the eve of the fourth UNCTAD conference, which will last until the end of May.
He said that the developing countries must understand that they are dependent on a flourishing world economic system and that attempts to wield bloc economic power would be harmful to all.
His remarks were taken as a warning that American proposals for dealing with such issues as fair commodity prices, the transfer of resources to developing countries and international debt relief would have clear limits even through modifications of detail are negotiable.
The Untied States opposes radical schemes devised by developing countries for indexing commodity prices to counerace inflations and for an integrated system to finance buffer stocks.
Dr. Kissinger is to address the conference on Thursday (6 May), a few hours after President Ferdinand Marcos of the Philippines has presented a programme for actions drawn up by the group of 77 developing countries in Manila last February.
One of Dr. Kissinger's proposals will be the establishment of an international resources bank to channel private capital investment, particularly by big multi-national corporation, into the development of natural resources in third world countries. None of his other proposals has yet been revealed.
More than 2,000 delegates from almost every country int he world have gathered for the conference, which is being held at a time when developing countries face enormous and growing financial problems and are desperately seeking to improve the terms of trade for their raw material exports.